While Pérez signed a new contract with the team ahead of the Canadian Grand Prix, reporting indicates that the contract allows for Pérez to be moved into an ambassadorial role.

Perez signed a multi-year contract extension earlier this season, but his new terms did little to boost his deteriorating performances, and after a miserable second half of the campaign, ESPN report that Red Bull have made the decision to move on from the six-time Grand Prix winner.

Mexican Formula 1 star Sergio Perez, one of the top drivers in the sport over the last five years, is expected to part with Oracle Red Bull Racing at the end of this season.

Sergio Perez’s time at Red Bull Racing appears to be over. According to ESPN, “Red Bull have decided to move on” after this Sunday’s 2024 Formula 1 season finale in Abu Dhabi. Perez failed to finish the Qatar Grand Prix on Sunday after he said his car lost forward drive as he attempted to accelerate for a green flag.

Veteran driver Sergio Perez is leaving Red Bull Racing after this season, ESPN reported Monday. Perez, 34, sits in eighth place in the Formula 1 drivers standings with one race remaining.

Sergio Perez is being urged to "come to his own conclusions" by Christian Horner ahead of the season finale in Abu